Summary
This proposal seeks to include wiTRY, the yield-bearing version of iTRY from Brix Money, as an eligible asset within the USP backing framework and maximum allowance table. wiTRY provides on-chain exposure to Turkish Lira-denominated money market yields through a tokenized, yield-accruing structure backed by regulated money market funds. The addition aims to further diversify USP backing across alternative yield sources and real-world asset-based strategies.
Rationale
Adding wiTRY to USP backing introduces exposure to tokenized Turkish Lira money market yields through a transparent and yield-bearing stable asset structure. wiTRY is the staked, yield-accruing version of iTRY, a Turkish Lira stablecoin backed by regulated Turkish money market funds, where yield is automatically reflected through appreciation of the wiTRY position over time.
wiTRY’s returns are derived from underlying money market fund performance and sovereign interest rate exposure, providing an additional yield source within USP backing.
Additionally, Brix emphasizes institutional-grade infrastructure including proof of reserves, regulated custody, audited smart contracts, and on-chain transparency, which aligns well with USP’s risk-aware collateral management approach.
Transparency for wiTRY can be accessed via: https://accountable.brix.money/
Including wiTRY in both the backing framework and maximum allowance structure provides the DAO with greater flexibility while maintaining a resilient collateral base.
USP Reserve Backing Max Allowance Addition
| RATE | CRYPTO | TYPE | Details |
|---|---|---|---|
| 20% | Brix Money wiTRY | On Chain | https://brix.money/ |
| 20% | Brix Money iTRY | On Chain | https://brix.money/ |
USP Reserve Backing Distribution Pre Proposal:
| RATE | CRYPTO | TYPE | Details |
|---|---|---|---|
| 57% | BMMF Turkey Stablecoin FX Arbitrage Strategy | On Chain | https://www.balsafinance.com/ |
| 25% | Staked USDx | On Chain | https://www.axis.to/ |
| 7% | USD AI sUSDai | On Chain | https://usd.ai/ |
| 5% | Upshift earnAUSD | On Chain | https://app.upshift.finance/pools/143/0x36eDbF0C834591BFdfCaC0Ef9605528c75c406aA |
| 2% | Midas mF-ONE | On Chain | https://midas.app/mfone |
| 1.5% | Staked NUSD (sNUSD) | On Chain | https://www.neutrl.finance/ |
| 1.5% | Midas mHYPER | On Chain | https://midas.app/mhyper |
| 0.5% | Yuzu Money syzUSD | On Chain | https://yuzu.money/ |
| 0.5% | USDC | On Chain | https://www.usdc.com |
USP Reserve Backing Distribution Post Proposal:
| RATE | CRYPTO | TYPE | Details |
|---|---|---|---|
| 57% | BMMF Turkey Stablecoin FX Arbitrage Strategy | On Chain | https://www.balsafinance.com/ |
| 25% | Staked USDx | On Chain | https://www.axis.to/ |
| 10% | Brix Money wiTRY | On Chain | https://brix.money/ |
| 4% | USD AI sUSDai | On Chain | https://usd.ai/ |
| 2% | Upshift earnAUSD | On Chain | https://app.upshift.finance/pools/143/0x36eDbF0C834591BFdfCaC0Ef9605528c75c406aA |
| 1.5% | Midas mF-ONE | On Chain | https://midas.app/mfone |
| 0.5% | USDC | On Chain | https://www.usdc.com |